Pre Session- Bullish opening on the cards for D-Street on global rally
23/10/2015
The Indian equity benchmarks are poised to witness a gap up opening on Friday tracking a bullish trend in fellow Asian peers and a surge in US stocks overnight as expectation of a stimulus boost from the European Central Bank (ECB) bolstered the appetite for risky assets. The ECB on Thursday said that it may bolster its bond buying program before the end of the current year in a bid to offer support to the 19-member Euro area economy. Shares of one of the country’s leading IT software services exporters Wipro may see buying momentum after the company in after-market-hours on Wednesday reported a robust 7.7 per cent rise in Q2 FY 2015-16 net income at Rs 2,240 crore from the year ago quarter. Meanwhile telecom operator Idea Cellular posted Q2 earnings at Rs 809 crore, missing analysts’ estimates, which could result in some selling pressure in the stock. Against the backdrop of a strong global trend coupled with a rally in the CNX Nifty Index futures for October delivery which soared by 1.07 per cent or 89.5 points at 8,336 at 10:47 am Singapore time, Dalal Street, which was shut on Thursday due to a holiday, is poised to open higher today. Marking a second day in the red, the 30-share Sensex on Wednesday fell by 19.17 points or by 0.07 per cent to end at 27,287.66 as a steep drop in Chinese markets heightened risk aversion among traders.
Asian stocks soared today after the ECB said that it may consider additional stimulus in December, while stating that QE will continue beyond September 2016 and until the time the Frankfurt-based central bank sees an increase in the Euro area’s inflation outlook. China’s stocks rose amid hopes that the government will take more measures to boost the world’s second biggest economy before a top-level Communist Party meet begins next week. Meanwhile, China’s home prices rose for a fifth month, up 0.2 per cent in September. Hang Seng soared by over 1 per cent while Japan’s Nikkei 225 rallied more than 2 per cent after the country’s manufacturing index hit the highest level since March 2014 at 52.5 in October 2015, above the neutral 50-mark. Prospects of further stimulus from the ECB and better-than-expected earnings from the likes of McDonald’s and EBay bolstered Wall Street on Thursday with each of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 rallying more than 1 per cent.
23/10/2015
The Indian equity benchmarks are poised to witness a gap up opening on Friday tracking a bullish trend in fellow Asian peers and a surge in US stocks overnight as expectation of a stimulus boost from the European Central Bank (ECB) bolstered the appetite for risky assets. The ECB on Thursday said that it may bolster its bond buying program before the end of the current year in a bid to offer support to the 19-member Euro area economy. Shares of one of the country’s leading IT software services exporters Wipro may see buying momentum after the company in after-market-hours on Wednesday reported a robust 7.7 per cent rise in Q2 FY 2015-16 net income at Rs 2,240 crore from the year ago quarter. Meanwhile telecom operator Idea Cellular posted Q2 earnings at Rs 809 crore, missing analysts’ estimates, which could result in some selling pressure in the stock. Against the backdrop of a strong global trend coupled with a rally in the CNX Nifty Index futures for October delivery which soared by 1.07 per cent or 89.5 points at 8,336 at 10:47 am Singapore time, Dalal Street, which was shut on Thursday due to a holiday, is poised to open higher today. Marking a second day in the red, the 30-share Sensex on Wednesday fell by 19.17 points or by 0.07 per cent to end at 27,287.66 as a steep drop in Chinese markets heightened risk aversion among traders.
Asian stocks soared today after the ECB said that it may consider additional stimulus in December, while stating that QE will continue beyond September 2016 and until the time the Frankfurt-based central bank sees an increase in the Euro area’s inflation outlook. China’s stocks rose amid hopes that the government will take more measures to boost the world’s second biggest economy before a top-level Communist Party meet begins next week. Meanwhile, China’s home prices rose for a fifth month, up 0.2 per cent in September. Hang Seng soared by over 1 per cent while Japan’s Nikkei 225 rallied more than 2 per cent after the country’s manufacturing index hit the highest level since March 2014 at 52.5 in October 2015, above the neutral 50-mark. Prospects of further stimulus from the ECB and better-than-expected earnings from the likes of McDonald’s and EBay bolstered Wall Street on Thursday with each of the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 rallying more than 1 per cent.
